The Hindu Business Line : Corporate developments

Coimbatore, March 24 Cambridge Technology Enterprises Ltd’s Board of Directors approved the acquisition of Cell Exchange Inc, a Delaware Corporation, USA by the company’s 100 per cent wholly owned US subsidiary CTE Inc. The acquired company has strong presence in the US and focuses on human capital management, supply chain management and information sharing. The acquisition is subject to completion of all necessary documentation and other legal formalities.

GHCL Ltd’s Board of Directors has given in-principle approval for restructuring the company and has granted authorisation for working out detailed plan of restructuring including seeking in-principle approval of stakeholders and lenders, appointment of advisors/consultants, drafting of scheme etc.

IVRCL Infrastructures & Projects Ltd has bagged a contract for Rs 78.85 crore from the Andhra Pradesh Industrial Infrastructure Corporation Ltd for construction of research complex of 5.75 lakh sq ft at the Indira Gandhi Centre for Advanced Research Livestock coming up at a cost of about Rs 400 crore at Pulivendula in Kadapa district.

Rain Commodities Ltd’s wholly-owned subsidiaries are involved in the business of producing cement and calcined petroleum coke (CPC). The cement expansion project, currently under way at Kurnool, Andhra Pradesh with a capacity of 1.5 million tonnes per annum, is expected to be completed in May. Consequently, the total cement capacity of the company will be 3.16 mt per annum. The company is proposing to expand its CPC capacity with greenfield projects in the country and China that are likely to be completed in early 2010 to meet the growing demand for CPC in China, India, West Asia and South Africa.

Raj Television Network Ltd has tied up with BIGFLICKS, an online and offline movie rental service and the home entertainment division of Reliance Anil Dhirubhai Ambani group for streaming its programmes and content for audiences on latter’s Web site for free viewing on demand. The audiences can now access the vast bank of contents including all the block buster movies on the website as video on demand. The company has a large library of all kinds of movies -from old classicals to recent block busters, valued at more than Rs 500 crore for the entertainment of all its viewers as an any time access facility. This will result in easy availability of its programmes and contents all across the globe.

Shree Cements Ltd has commissioned its unit - VI of 1 MTPA clinker production capacity at Bangur city, Ras, District Pali, Rajasthan on March 23. The company has also commissioned 18 MW captive Thermal Power Plant (CPP- V).